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IBA6305 Assignment 1

Fall 2022

Based on the case Steel Works, Inc. and the data, answer the following questions. Your answers should be rigorous, concise, and no more than three pages. If there is anything that is unclear to you, state your assumptions.

1. Calculate the coefficient of variations for each product of Steel Works, Inc. How would you characterize the products of Steel Works, Inc. based on the results?

2. Assuming the ordering lead time for all product is one week, try to calculate the reorder point ������ for each product following the (������, ������) policy.

3. Does Steel Works hold too much, or too little inventory? Please explain.

4. Do you think the company should discontinue the slow-moving products as suggested? Please explain. You may use evidence from the case or data to support your opinion.